Smart Contract Optimization for Multiparty Service or Product Ordering System

ABSTRACT

A method of tracking orders through a blockchain network including receiving an indication of order placement, receiving a plurality of global variable registration requests from a plurality of linked smart contracts recorded to a first blockchain network responsive to an order placement at a global variable name system (GVNS), defining a global variable responsive to each global variable registration request, receiving a first status update related to the order from a first smart contract of the plurality of smart contracts, defining a first received status update, and updating a first global variable of the GVNS responsive to the first received status update, defining a first GVNS variable update. The first and second smart contracts include the first global variable and the value of the first global variable on each of the first and second smart contracts is updated responsive to the first GVNS variable update.

RELATED APPLICATIONS

This application is a continuation-in-part application of and claimspriority under 35 U.S.C. § 120 of U.S. patent application Ser. No.16/127,283 (Attorney Docket No. 3026.00011) filed on Sep. 11, 2018 andtitled Tokens or Crypto Currency Using Smart Contracts and Blockchains,which in turn claims priority under 35 U.S.C. § 119(e) of U.S.Provisional Patent Application Ser. No. 62/557,820 filed on Sep. 13,2017 and titled Tokens or Crypto Currency for Change Using SmartContracts and Blockchains, which in turn claims priority under 35 U.S.C.§ 119(e) of U.S. Provisional Patent Application Ser. No. 62/618,784filed on Jan. 18, 2018 and titled Additional Features of CoinBank andnCash NCC Tokens. This application also claims priority under 35 U.S.C.§ 119(e) of U.S. Provisional Patent Application Ser. No. 62/814,892filed on Mar. 7, 2019 and titled Enhanced Point of Sale POS withBlockchain and Smart Contracts. This application also claims priorityunder 35 U.S.C. § 119(e) of U.S. Provisional Patent Application Ser. No.62/815,394 filed on Mar. 8, 2019 and titled Smart Contract Optimizationfor Multiparty Service or Product Ordering Systems. The contents ofthese applications are incorporated herein by reference.

FIELD OF THE INVENTION

The present invention relates to systems and methods forblockchain-based optimization of order placement, order delivery,purchase order, order return via smart contracts.

BACKGROUND OF THE INVENTION

Blockchain is a distributed and public ledger which maintains records ofall the transactions. A blockchain network is a truly peer-to-peernetwork and it does not require a trusted central authority orintermediaries to authenticate or to settle the transactions or tocontrol the network infrastructure. Users can interact and transact withthe blockchain networks through Externally Owned Account (EOAs), whichare owned and controlled by the users. Each EOA has a balance (incertain units of a Cryptocurrency associated with the Blockchainnetwork) associated with it. EOAs do not have any associated code. Alltransactions on a blockchain network are initiated by EOAs. Theseaccounts can send transactions to other EOAs or contract accounts.Another type of accounts support by second generation programmableBlockchain platforms are the Contract Accounts. A Contract Account iscreated and owned by an EOA and is controlled by the associated contractcode which is stored with the account. The contract code execution istriggered by transactions sent by EOAs or messages sent by othercontracts.

Blockchain networks can either be public or private. Public blockchainnetworks are free and open to all and any user can create an account andparticipate in the consensus mechanism on a public blockchain and viewall the transactions on the network. Private blockchain networks areusually controlled and operated by a single organization and thetransactions can be viewed only by the users within the organization.Public blockchain networks are usually unpermissioned or permissionless,as any node can participate in consensus process. Some public blockchainnetworks adopt a permissioned model where the consensus process iscontrolled by a pre-selected set of nodes. Private blockchain networksusually adopt the permissioned model. While public blockchain networkscan be considered as fully decentralized, private blockchain networksare partially decentralized.

Organizations can have multiple private blockchain networks where eachnetwork is dedicated to a specific use case or department or businessvertical. The blockchain networks within an organization may be createdeither using the same blockchain platform or technology or withdifferent platforms or technologies.

On each blockchain network, a user can create multiple Externally OwnedAccounts (EOAs). Each Externally Owned Account (EOA) has apublic-private keypair associated with it. The account address isderived from the public key. When a new EOA is created, a keyfile iscreated which has the public and private keys associated with theaccount. The private key is encrypted with the password which isprovided while creating the account. For sending transactions to otheraccounts, the private key and the account password are required.

This background information is provided to reveal information believedby the applicant to be of possible relevance to the present invention.No admission is necessarily intended, nor should be construed, that anyof the preceding information constitutes prior art against the presentinvention.

SUMMARY OF THE INVENTION

With the above in mind, embodiments of the present invention aredirected to a system and associated methods for exchange of information,value or tokens within and between blockchain networks and the realphysical world.

In some embodiments, the systems, apparatus and methods allow creationand deployment of scalable blockchain applications that rely on a largenumber of smart contracts that interact with each other through the useof either a cloud-based billboard architecture or a blockchain-basedbillboard architecture. This architecture allows extension of existingblockchain applications to deploy smart contracts that use global sharedvariables (within languages, such a Solidity) to exchange informationwith each other. The billboard architecture allows the integration ofscalable information exchange between the real-world (e.g., triggerssuch as loan payments or sales of products) and the systems of smartcontracts and oracles, seamlessly and efficiently. Several familiarprogramming models such as push/pull, publish/subscribe andconsumer/producer may be easily supported for production deployment.

Decentralized blockchain applications and smart contracts in second andthird generation blockchain platforms such as Ethereum, Hyperledger,Neo, Lisk and EOS that rely on a large number of linked smart contractsinteracting with each other can benefit from the proposed Bulletin BoardMessaging Framework (BBMF) and the Global Variable Name System (GVNS)technologies. In current implementations of applications with linkedsmart contracts, one smart contract can send a transaction to anothercontract or reference public state variables of other contracts.However, such calls and variable references must be coded in the smartcontract and the contract code once deployed cannot be changed. If onecontract in a system of linked contracts must be changed then it wouldneed re-deployment of all the other linked contracts as the code has tobe changed. BBMF and GVNS technologies allow the seamless integration ofscalable information exchange between the real-world and the systems ofsmart contracts and oracles, seamlessly and efficiently. Further, legacyblockchain-based code can be seamlessly upgraded and functionalitymodified through change in the BBMF framework through new mapping anddistribution from older public state variables to new or redefined ones.

In some embodiments, the method and systems may further comprise fintechand enterprise applications, including but not limited retail payments,loyalty rewards and peer-to-peer lending application and an associatedplatform that provide the following features:

-   -   Scalable blockchain architecture that links to the real-world:        Decentralized applications and systems that are based on a very        large number of interacting smart contracts that are coupled        with and responsive to real world triggers and events, using a        novel billboard-based information and value distribution system.    -   Secure Blockchain Payments: The platform is built on second        generation programmable Blockchain network (such as Ethereum)        and allows individuals to securely send and receive payments.    -   Pay at Merchant Stores: The application allows users to spend        crypto or fiat currencies managed by the platform at affiliated        merchant stores.    -   Get Change in Tokens: Users no longer have to deal with the        inconvenience of receiving loose change back when making        purchases, rather they can receive the change into their mobile        application wallet.    -   Loyalty Rewards and Offers: Users can get exclusive loyalty        rewards, discount offers and cashbacks by paying with app at        affiliated merchant stores.    -   Supports Multiple Currencies: The mobile application wallet is        capable of managing multiple layers of currencies (fiat        currency, cryptocurrency and ERC-20 tokens). Users can buy the        native tokens named Coins (NCC) by paying with credit or debit        card, ACH bank transfer, or any of the supported        cryptocurrencies (including Bitcoin, Ether, Litecoin, and more).    -   ERC20 Token: Coins (NCC) are based on the ERC-20 token standard.        NCC tokens can be purchased with any of the supported fiat or        crypto currencies in the exemplary app.    -   Chat and Transact with Contacts: With the app users can chat and        send payments or request payments from their contacts.    -   Borrow and Lend Coins: The application includes a lending        marketplace and supports borrowing and lending of exemplary        coins.    -   Multiple Account Types: The application supports customer,        merchant admin and merchant operator account types. The        exemplary application and platform is an example of where these        proposed technologies may be inserted into.

Additionally, embodiments of the present invention are directed to amethod of exchanging value across a blockchain network comprisingreceiving a first transaction smart contract, that may be a transaction,comprising a transaction amount global variable name request and atransaction amount, recording the first transaction to a secondtransaction smart contract on a first blockchain network, andregistering the first transaction amount global variable name to aglobal variable name system, defining a transaction amount globalvariable. The method further comprises defining a value of thetransaction amount global variable responsive to the transaction amount,receiving a second transaction smart contract, which may also be afinancial transaction, comprising a second transaction global variablename request and a second transaction amount, and registering the secondtransaction global variable name request to the global variable namesystem, defining a second transaction global variable. The methodfurther comprises defining a value of the second transaction globalvariable responsive to the second transaction amount, receiving atransaction notification comprising the second transaction globalvariable name and a transaction value, recording the transactionnotification to the second smart contract, and updating the value of thesecond transaction global variable responsive to the transaction value.

In some embodiments, updating the value of the second transaction globalvariable may comprise publishing the updated value of the secondtransaction global variable to a first managed topic on a firstmessaging server and transmitting the content published to the managedtopic to a first subscriber. The receipt of the content published to thefirst managed topic by the first subscriber may initiate a smartcontract transaction for a first smart contract, the first smartcontract being recorded on a first blockchain network.

Registering the transaction amount global variable, registering thesecond transaction global variable, and registering the registering thesecond transaction global variable each comprise performing a globalvariable registration process may comprise receiving a request for toregister a global variable name at a global variable name registrar froma user, defining a new global variable, defining an owner for the newglobal variable at a global variable name registry, defining a resolverfor the new global variable at the global variable name registry, anddefining a value of the new global variable. Additionally, the methodmay further comprise performing an updating procedure to update thevalue of the new global variable, the updating procedure comprisingreceiving a trigger generated by a smart contract data source on a firstmessaging server, the trigger comprising an updated value of the newglobal variable, publishing the updated value comprised by the triggerto a first managed topic associated with the new global variable on thefirst messaging server, and transmitting the updated value comprised bythe trigger that is published to the managed topic to a firstsubscriber. Receipt of the content published to the first managed topicby the first subscriber may initiate a smart contract transaction for afirst smart contract, the first smart contract being recorded on thefirst blockchain network.

In some embodiments, the method may further comprise receiving acollateral input and recording the collateral input to a collateralsmart contract on the first blockchain network. The collateral input maybe a collateral token generated by receiving a tangible asset collateraldeposit, generating a collateral token associated with the tangibleasset collateral deposit, and transmitting the collateral token. Thetangible asset may be received by a third party and the collateral tokenmay be generated by the third party. In some embodiments, the method mayfurther comprise receiving a repayment notification, recording therepayment notification to the second transaction smart contract,updating the value of the second transaction global variable, andrecording a collateral release to the collateral smart contract. In someembodiments, the method may further comprise receiving a defaultnotification, recording the default notification to the secondtransaction smart contract, updating the value of the second transactionglobal variable, and recording a collateral release to the collateralsmart contract directed to the second transaction global variable. Thecollateral input may comprise at least one of cryptocurrency or acollateral token.

In some embodiments, the method may further comprise receiving aninstallation payment, recording an installation payment notification tothe second transaction smart contract, updating the second transactionglobal variable responsive to a value of the installation payment, andtransferring at least a portion of the value of the installation paymentto an entity associated with the second transaction global variable.

In some embodiments, the first transaction smart contract may furthercomprise a loan duration and a loan interest rate, collectively definingborrower conditions, the method further comprising registering a loanduration global variable name to the global variable name system,defining a loan duration global variable, defining a value of the loanduration global variable responsive to the transaction amount,registering a loan interest rate global variable name to the globalvariable name system, defining a loan interest rate global variable, anddefining a value of the loan interest rate global variable responsive tothe loan interest rate. The method may further comprise receiving aplurality of lending offers from a plurality of lenders, each lendingoffer comprising an amount to lend, a loan duration, and expectedreturns, collectively defining lending pool conditions, recording theplurality of lending offers, defining a lending pool, to a secondtransaction smart contract on the first blockchain network, the valuesof the lending offers of the plurality of lending offers defininglending pool conditions, determining if the borrower conditions matchthe lending pool conditions, matching a lending offer from the secondtransaction smart contract to the first transaction, recording aborrower smart contract between the borrower and the second transactionsmart contract, and recording a lender smart contract between the lenderassociated with the matched lending offer and the second transactionsmart contract. Additionally, the method may further comprise receivingmultiple pluralities of lending offers from a plurality of lenders, eachlending offer comprising an amount to lend, a loan duration, andexpected returns, recording each plurality of lending offers, defining alending pool, to a second transaction smart contract on the firstblockchain network, the values of the lending offers of the plurality oflending offers defining lending pool conditions, recording a pluralityof second transaction smart contracts to a pool of pools smart contracton the first blockchain network, determining if the borrower conditionsmatch the lending pool conditions of any of the plurality of secondtransaction smart contracts comprised by the pool of pools smartcontract, matching a lending offer from the pool of pools smart contractto the first transaction, recording a borrower smart contract betweenthe borrower and the pool of pools smart contract, recording apool-to-pool smart contract between the pool of pools smart contract andthe second transaction smart contract, and recording a lender smartcontract between the lender associated with the matched lending offerand the second transaction smart contract.

In some embodiments, the method may further comprise receiving borroweridentity information associated with a borrower, receiving a borrowercredit rating, and recording the borrower credit rating to a creditrating and reputation smart contract on the first blockchain network.

Additional embodiments of the inventions may be directed to a system forexchanging value across a blockchain network comprising a processor, adata storage device, such as memory, positioned in communication withthe processor, and a network communication device positioned incommunication with each of the processor, the data storage device, and anetwork. The network communication device may be operable to receive afirst transaction smart contract comprising a transaction amount globalvariable name request and a transaction amount. The processor may beoperable to record the first transaction to a second transaction smartcontract on a first blockchain network and register the firsttransaction amount global variable name to a global variable namesystem, defining a transaction amount global variable. Additionally, thenetwork communication device may be operable to receive a secondtransaction smart contract comprising a second transaction globalvariable name request and a second transaction amount. Furthermore, theprocessor may be operable to register the second transaction globalvariable name request to the global variable name system, defining asecond transaction global variable. The network communication device maybe operable to receive a transaction notification comprising the secondtransaction global variable name and a transaction value. The processormay be operable to record the transaction notification to the secondtransaction smart contract and update a value of the second transactionglobal variable responsive to the transaction value.

Further embodiments are directed to a method of tracking orders througha blockchain network comprising receiving a plurality of global variableregistration requests from a plurality of linked smart contractsrecorded to a first blockchain network responsive to an order placementat a global variable name system (GVNS), defining a global variableresponsive to each global variable registration request, receiving afirst status update related to the order placement from a first smartcontract of the plurality of smart contracts, defining a first receivedstatus update, and updating a first global variable comprised by theGVNS responsive to the first received status update, defining a firstGVNS variable update. The first global variable may be comprised by thefirst smart contract and a second smart contract of the plurality ofsmart contracts and the value of the first global variable on each ofthe first and second smart contracts may be updated responsive to thefirst GVNS variable update.

In some embodiments, the method may further comprise receiving a firstindication of value transfer from a distributed application responsiveto the first GVNS variable update. The value transfer may be indicatedto have occurred on a second blockchain network discrete from the firstblockchain network.

In some embodiments the method may further comprise receiving a secondstatus update related to the order from the second smart contract of theplurality of smart contracts, defining a second received status updateand updating a second global variable comprised by the GVNS responsiveto the second received status update, defining a second GVNS variableupdate. The method may further comprise a second indication of valuetransfer from a distributed application responsive to the second GVNSvariable update.

In some embodiments the plurality of global variable registrationrequests and the first status update may be received at an oracle incommunication with the GVNS. The method may further comprise receivingthe plurality of global variable registration requests and the firststatus update from the oracle, receiving a status request for the firstglobal variable from the oracle, transmitting a first flag to the oracleif the first global variable has changed in a time period since aprevious status request for the first global variable, defining a firstindication time period, and transmitting the value of the first globalvariable to the oracle where the first flag indicates the first globalvariable has changed during the first indication time period. The GVNSmay be implemented in a database outside the first blockchain network.

In some embodiments the plurality of linked smart contracts may comprisea smart contract associated with the placing of the order, a smartcontract associated with receipt of the order by an order fulfillmentagent, and a smart contract associated with a delivery agent. Theplurality of linked smart contracts may further comprise an escrow smartcontract.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a schematic diagram of a retail payments, loyalty rewards andpeer-to-peer lending system that uses smart contracts and blockchain.

FIG. 2 is an illustration of a process for retail payments where acustomer pays in cash at a merchant kiosk/application/point of saleapplication or hardware device that is aware of the platform, andinstead of receiving loose change back receives digital tokens in themobile application wallet, according to an embodiment of the invention.

FIG. 3 is an illustration of a process for retail payments where acustomer pays in cash and instead of receiving loose change backreceives digital tokens from a merchant account in the mobileapplication, according to an embodiment of the invention.

FIG. 4 is an illustration of the components of the mobile applicationwallet, according to an embodiment of the invention.

FIG. 5 is an illustration a process for QR-code based payment requestand authorization, according to an embodiment of the invention.

FIG. 6 is an illustration of a process for buying coins with credit ordebit card, according to an embodiment of the invention.

FIG. 7 is an illustration of a process for buying coins with ACH BankTransfer, according to an embodiment of the invention.

FIG. 8 is an illustration of a process for buying coins withCryptocurrencies, according to an embodiment of the invention.

FIG. 9 is an illustration a process for withdrawing coins to a linkedbank account, according to an embodiment of the invention.

FIG. 10 is an illustration of the smart contracts involved in theexemplary retail payments, loyalty rewards and peer-to-peer lendingplatform, according to an embodiment of the invention.

FIG. 11 is an illustration of a process for peer-to-peer lending,according to an embodiment of the invention.

FIG. 12 is a schematic diagram of the blockchain-based peer-to-peerlending system, according to an embodiment of the invention.

FIG. 13 is an illustration the multi-signature collateral contract usedby the peer-to-peer lending system, according to an embodiment of theinvention.

FIG. 14 is an illustration of a process for chaining of loans, accordingto an embodiment of the invention.

FIG. 15 is an illustration of a process for lending with cryptocurrencyor tokens as collateral where the borrower successfully repays the loan,according to an embodiment of the invention.

FIG. 16 is an illustration of a process for lending with cryptocurrencyor tokens as collateral where the borrower fails to repay the loan,according to an embodiment of the invention.

FIG. 17 is an illustration of a process for lending with physical assetsas collateral, according to an embodiment of the invention.

FIG. 18 is an illustration of the transaction fee involved for buyingand selling of coins, according to an embodiment of the invention.

FIG. 19 is an illustration of the smart contracts related to the lendingplatform and the interactions of borrowers and lenders with the smartcontracts, according to an embodiment of the invention.

FIG. 20 is an illustration of a process for issuing cashback anddiscounts using smart contracts, according to an embodiment of theinvention.

FIG. 21 is an illustration of a peer-to-pool-to-peer (P2P2P) lendingmodel, according to an embodiment of the invention.

FIG. 22 is an illustration of a lending pool generator for generatinglending pool smart contracts, according to an embodiment of theinvention.

FIG. 23 is an illustration of a matching engine for matching borrowersto lending pools, according to an embodiment of the invention.

FIG. 24 is an illustration of feeding external data to lending poolcontracts using an oracle, according to an embodiment of the invention.

FIG. 25 is an illustration of channels and triggers for lending pools,according to an embodiment of the invention.

FIG. 26 is an illustration of smart contracts involved in a lendingpool, according to an embodiment of the invention.

FIG. 27 is an illustration of a pool-of-pools comprised of multiplelending pools, according to an embodiment of the invention.

FIG. 28 is an illustration of a lending pool smart contract structureand transactions, according to an embodiment of the invention.

FIG. 29 is an exemplary classification of lending pools based on theirrisk and returns, according to an embodiment of the invention.

FIG. 30 is an illustration of an alliance of merchants withinteroperable loyalty points, according to an embodiment of theinvention.

FIG. 31 is an illustration of a distributed messaging framework calledBulleting Board Messaging Framework (BBMF) according to an embodiment ofthe invention.

FIG. 32 is an illustration of consumer/subscriber actions supported inthe publish-subscribe messaging framework illustrated in FIG. 31.

FIG. 33 is an illustration of a smart contract data source that uses anexternal publisher client to publish messages to the publish-subscribemessaging framework, according to an embodiment of the invention.

FIG. 34 is an illustration of a smart contract data source that uses anintegrated publisher client to publish messages to the publish-subscribemessaging framework, according to an embodiment of the invention.

FIG. 35 is an illustration of the message format for thepublish-subscribe messaging framework, according to an embodiment of theinvention.

FIG. 36 is an illustration of a global variable name system beingupdated by a consumer of the publish-subscribe messaging framework,according to an embodiment of the invention.

FIG. 37 is an illustration of the architecture of a global variable namesystem, according to an embodiment of the invention.

FIG. 38 is an illustration of a blockchain checkpointing approach in thepublish-subscribe messaging framework, according to an embodiment of theinvention.

FIG. 39 is an illustration of global variable sharing across smartcontracts, according to an embodiment of the invention.

FIG. 40 is an exemplary implementation of a Bulletin BoardPublisher/Producer client and Consumer/Subscriber client, according toan embodiment of the invention.

FIG. 41 is an exemplary interface of the representative mobileapplication, according to an embodiment of the invention.

FIG. 42 is an exemplary interface of the representative mobileapplication extended by showing peer-to-peer lending options, accordingto an embodiment of the invention.

FIG. 43 is an exemplary interface of the mobile application extended todifferent types of transactions, according to an embodiment of theinvention.

FIG. 44 is an exemplary interface of the mobile application extended toshow chats and payments interface, according to an embodiment of theinvention.

FIG. 45 is an illustration of the mobile application features extendedto show different types of accounts, according to an embodiment of theinvention.

FIG. 46 is an illustration of an application of a Global Variable NameSystem to an online-food ordering system, according to an embodiment ofthe invention.

FIG. 47 is an illustration of an approach for realizing the GlobalVariable Name System, according to an embodiment of the invention.

FIG. 48 is an illustration of an application of a Global Variable namesystem to an online product ordering system, according to an embodimentof the invention.

DETAILED DESCRIPTION OF THE INVENTION

The present invention will now be described more fully hereinafter withreference to the accompanying drawings, in which preferred embodimentsof the invention are shown. This invention may, however, be embodied inmany different forms and should not be construed as limited to theembodiments set forth herein. Rather, these embodiments are provided sothat this disclosure will be thorough and complete, and will fullyconvey the scope of the invention to those skilled in the art. Those ofordinary skill in the art realize that the following descriptions of theembodiments of the present invention are illustrative and are notintended to be limiting in any way. Other embodiments of the presentinvention will readily suggest themselves to such skilled persons havingthe benefit of this disclosure. Like numbers refer to like elementsthroughout.

Although the following detailed description contains many specifics forthe purposes of illustration, anyone of ordinary skill in the art willappreciate that many variations and alterations to the following detailsare within the scope of the invention. Accordingly, the followingembodiments of the invention are set forth without any loss ofgenerality to, and without imposing limitations upon, the claimedinvention.

In this detailed description of the present invention, a person skilledin the art should note that directional terms, such as “above,” “below,”“upper,” “lower,” and other like terms are used for the convenience ofthe reader in reference to the drawings. Also, a person skilled in theart should notice this description may contain other terminology toconvey position, orientation, and direction without departing from theprinciples of the present invention.

Furthermore, in this detailed description, a person skilled in the artshould note that quantitative qualifying terms such as “generally,”“substantially,” “mostly,” and other terms are used, in general, to meanthat the referred to object, characteristic, or quality constitutes amajority of the subject of the reference. The meaning of any of theseterms is dependent upon the context within which it is used, and themeaning may be expressly modified.

Referring now to FIG. 1 a schematic diagram of a retail payments,loyalty rewards and peer-to-peer lending system that uses smartcontracts and blockchain, is described in more detail. A user 100 and amerchant 102 may complete a transaction through use of an applicationand presentation layer 104. The application and presentation layer 104may comprise a web interface 106 and/or a mobile application 108.Elements of the application and presentation layer 104 may be theclient-facing element of a platform/application services layer 110. Theplatform/application services layer 110 may comprise security features112, such as a user identity and access management system 114. Theplatform/application services layer 110 may further comprise integrationservices 116, such as, for example, a messaging service 118 or aconnector service for applications, cloud services, and token exchanges120. The platform/application services layer 110 may further compriseconfiguration management features 122. The configuration managementfeatures 122 may include an exemplary portal 124, an incentivesmanagement system 126, and a license manager 128. Theplatform/application services layer 110 may further comprise accountingand transaction services 130, such as a change management framework 132,a token framework 469, an incentives disbursement framework 136, alending framework 138, and an exemplary wallet 140. Theplatform/application services layer 110 may further comprise datamanagement and analytics services 142, such as analytics and reportingsystems 144, an incentives bidding system 146, a loan matching system148, a recommendation system 150, and an advertisement and promotionssystem 152. The platform/application services layer 110 may function onan infrastructure layer 154 that may comprise one or more of blockchainnetworks 156, decentralized storage platforms 158, decentralizedmessaging platforms 160, or cloud infrastructure 162, such as cloudcomputational resources, cloud storage resources, or cloud networkingresources.

Referring now to FIG. 2 a process flow for retail payments where acustomer pays in cash and instead of receiving loose change back,receives the change as digital tokens (exemplary coins—“NCC”) in theexemplary mobile application, is described in more detail. Customer 200pays for the items purchased or rented at a store in cash at step 204.Customer 200 opens the exemplary app and displays a barcode of thecustomer's exemplary account number at step 206. The merchantkiosk/application/point of sale application or hardware device that isaware of the exemplary platform 202 scans the barcode and an entry isadded in the ledger to transfer the change to the exemplary account atstep 208. At some periodic interval, for example, at the end of the day,all the transactions to credit the change to exemplary accounts areprocessed by the payment system. Customer 200 receives the change backin the exemplary App at step 210.

Referring now to FIG. 3 a process flow for retail payments where acustomer pays in cash and instead of receiving loose change backreceives digital tokens from a merchant account in the exemplary mobileapplication, is described in more detail. Customer 220 pays for theitems purchased or rented at a store in cash at step 224. Customer 220opens the exemplary app and displays a QR code at step 226. Themerchant/PoS agent 222 that has a mobile/tablet device with exemplarymobile application installed scans the QR code and enters the changeamount and transfers the amount instantly from the merchantadministrator or operator account at step 228. Every PoS agent 222 has aMerchant exemplary app to which some fixed amount is loaded by the storedaily to pay as change. Customer 220 receives the change back in theexemplary App at step 230.

Referring now to FIG. 4 components of an exemplary mobile applicationwallet 250 are described in more detail. The exemplary wallet 250 maycomprise a Fiat currency wallet 252, a cryptocurrency wallet 258, acoupons and voucher management system 254, and ERC-20 token wallet 260,Escrow accounts 256, and prepaid credit accounts 262. For making retailpayments, a portion or prepaid deposit in fiat or cryptocurrency wallets252, 258 can be considered. The wallet balance of one or both of thefiat and cryptocurrency wallets 252, 258 may be applied to Escrow 256 aswell where the payment sent by a customer to a merchant is held in anEscrow account and released when an order is fulfilled.

Referring now to FIG. 5 a process flow for QR-code based payment requestand authorization, is described in more detail. Customer 302 usesexemplary mobile application to display a QR code containing customer'sexemplary wallet address and a one-time receive code at step 318. The QRcode is scanned by a PoS machine 306 or exemplary app with merchantaccount 308, and a request is sent including the customer address, thereceive code, and the amount to the exemplary network 300 at step 316.The exemplary network 300 validates the receive code and sends a requestto customer to authorize the payment at step 312. Customer 302authorizes the payment from the exemplary app at step 314. A paymentconfirmation is sent to the PoS machine 306 or exemplary app withmerchant account 308, at step 310.

Referring now to FIG. 6 a process flow for buying coins with credit ordebit card is described in more detail. Customer 350 sends a request toload an amount to exemplary wallet using credit or debit card at step356. The exemplary network 352 requests for credit or debit card detailsof customer 350 at step 358. Customer 350 enters credit or debit cardinformation in the exemplary mobile application at step 360. The cardinformation is then sent to the fiat payment processor 354 directlywithout going through the exemplary network 352 at step 360. The fiatpayment processor 354 validates the card information and generates atoken which is then sent to customer's exemplary mobile application atstep 362. Customer 350 confirms the payment and sends a requestcontaining the card token and payment amount at step 364. The exemplarynetwork 352 sends a request containing the token and the payment amountto charge the card to the fiat payment processor 354 at step 366. Thefiat payment processor 354 charges the customer's card for the amountrequested and a payment confirmation is sent to the exemplary network352 at step 368. The exemplary network 352 mints new coins (digitaltokens defined in the exemplary Token smart contract) and the tokensmart contract 370. The exemplary network 352 adds these new coins(digital tokens) the customer's exemplary wallet account at step 372.

Referring now to FIG. 7 a process flow for buying coins with ACH BankTransfer is described in more detail. Customer 400 sends a request to anexemplary network 402 to load an amount to exemplary wallet using ACHbank transfer at step 406. The exemplary network 402 requests atemporary account details from a fiat payment processor 404 at step 408.The fiat payment processor 404 generates a temporary account and sendsdetails about the temporary account to the exemplary network 402 at step410. The exemplary network 402 then sends the temporary account detailsto the customer's exemplary mobile application. Customer 400 sends apayment to the temporary account using ACH bank transfer at step 414. Onreceiving the payment, the fiat payment processor 404 sends a paymentconfirmation to exemplary network 402 at step 416. The exemplary network402 mints new coins (digital tokens defined in the exemplary Token smartcontract) and the token smart contract 418. The exemplary network 402adds these new coins (digital tokens) the customer's exemplary walletaccount at step 420.

Referring now to FIG. 8 a process flow for buying coins withCryptocurrencies is described in more detail. Customer 450 sends arequest to an exemplary network 452 to load an amount to exemplarywallet using cryptocurrency at step 456. The exemplary network 452requests a temporary account details from a crypto payment processor 454at step 458. The crypto payment processor 454 generates temporaryaccount and sends them to the exemplary network 452 at step 460. Theexemplary network 452 then sends the temporary account details to thecustomer's exemplary mobile application at step 462. Customer 450 sendsa payment to the temporary account using a cryptocurrency wallet at step470. On receiving the payment, the crypto payment processor 454 sends apayment confirmation to exemplary network 452 at step 472. The exemplarynetwork 452 mints new coins (digital tokens defined in the exemplaryToken smart contract) and the token smart contract 480. The exemplarynetwork 452 adds these new coins (digital tokens) the customer'sexemplary wallet account at step 482.

Referring now to FIG. 9 a process flow for withdrawing coins to a linkedbank account is described in more detail. Customer 500 sends a requestto a exemplary network 502 to withdraw a certain amount of tokens tocustomer's linked bank account in a bank 506 at step 508. On receivingthe withdrawal request the exemplary network 502 burns coins equivalentto the withdrawal amount from the customer's account and updates thetoken smart contract 510. The exemplary network 502 then sends atransfer request to the fiat payment processor 504 at step 512. Thewithdrawal amount is credited by the fiat payment processor 504 to thecustomer's linked bank account at the bank 506 at step 514. The fiatpayment processor 504 then sends a transfer confirmation to exemplarynetwork 502 at step 518. A withdrawal confirmation is then sent tocustomer 500 at step 520.

Referring now to FIG. 10 examples of smart contracts involved in theexemplary retail payments, loyalty rewards, and peer-to-peer lendingplatform are described in more detail. The exemplary blockchain network588 is a distributed ledger which maintains records of all thetransactions on the exemplary network. Users 554 interact and transactwith the blockchain network 588 through Externally Owned Account (EOAs)550, which are owned and controlled by the users. Each EOA 550 has anaccount address 556, account public-private keys 558 and a balance 560(in certain units of a Cryptocurrency associated with the Blockchainnetwork) associated with it. EOAs do not have any associated code. EOAsmay interact 564 with bank accounts 552 also owned 566 by the user 554via third party exchanges operable to exchange cryptocurrencies for fiatcurrency, which may be deposited in or withdrawn from the bank account552.

All transactions on a blockchain network are initiated by EOAs. Theseaccounts can send transactions to other EOAs or contract accounts.Another type of accounts support by second generation programmableBlockchain platforms are the Contract Accounts. Smart contracts 570contain the contract code which control the associated contractaccounts. The smart contracts 570 are deployed on the blockchain network588. The smart contracts 570 involved in the exemplary network are asfollows:

-   -   Token Contract 572: Token Contract provides the exemplary token        definition including token name, symbol, decimal places, token        supply, method for token transfer, and method for checking token        balance of an account.    -   Token Distribution Contract 580: Token Distribution Contract        defines the token distribution and pricing model and contains        methods for purchasing and claiming tokens, and methods for        withdrawing token sale proceeds.    -   Incentives Contract 574: Incentives Contract defines the        incentives and triggers and methods for distributing incentives.    -   Bidding Contract 582: Bidding Contract defines the bidding        mechanism for allowing merchants to compete, bid, or pay for the        right to add incentives.    -   Loan Smart Contract 576: Loan Smart Contract is used to enforce        loan terms, manage release, repayment or extension of loans.    -   Identity Smart Contract 584: Identity Smart Contract is used to        link blockchain accounts to real users (borrowers or lenders).    -   Credit Rating & Reputation Smart Contract 578: Credit Rating &        Reputation Smart Contract is Used to track credit scores and        reputation of borrowers.    -   Collateral Smart Contract 586: Collateral Smart Contract is used        to manage locking up and release of collateral, such as        cryptocurrency tokens or physical assets which may be        represented in a tokenized form.

Referring now to FIG. 11 a process flow for peer-to-peer lending isdescribed in more detail. A borrowing peer (borrower) 600 creates afirst transaction smart contract in the form of a loan request at step606. The lending platform 602 advertises the loan requests to thelending peers (lenders) 604 at step 616. The lending platform 602 mayacquire a credit rating 612 associated with the borrowing peer 600 andinclude the credit rating with the request. The lending peers 604 bidfor loans by sending second transaction smart contracts in the form ofloan offers to the lending platform 602 at step 620. The borrowing peer600 selects the best offer and the loan amount is sent to the borrowingpeer at step 610. The borrowing peer 600 repays the loan amount plus theinterest and lending platform fees to the lending platform 602 at step608. The lending platform 602 returns the loan amount plus the profit tothe lending peer 604 at step 618. The lending platform 602 may issueloyalty points 614 to borrowing peers 600 and lending peers 604 uponsuccessful repayment of loans, to incentivize the borrowing and lendingpeers 600, 604 to use the lending platform again for borrowing andlending.

Referring now to FIG. 12 a schematic diagram of the blockchain-basedpeer-to-peer lending system is described in more detail. Theblockchain-based peer-to-peer lending system allows borrowing peers orborrowers 652 to send loan requests to a platform 650 which areadvertised to lending peers or lenders 656. Lenders 656 can bid to senda loan at a particular rate and terms that is enforced by a loan smartcontract 668 deployed on a blockchain network 678. The lending platform650 can co-exist with an electronic payments platform. A Borrowers 652post loan requests to the platform and rates they can pay and lendersbid for loans with terms and rates. Platform 650 allows borrowers 652 toautomatically repay loans from their exemplary mobile applicationwallets (Borrower Crypto wallet) 662 or extend loan for another term ifagreed to. Platform 650 can disburse loans in fiat or crypto currencies.When a loan is disbursed, the loan amount is transferred from the LenderCrypto wallet 672 (exemplary mobile application wallet of the lender) tothe Borrower Crypto wallet 662 (exemplary mobile application wallet ofthe borrower). The interest rate is driven by the market. Higher riskmeans larger rate. Platform 650 may charge a percentage of the interestrate on every transaction. Borrower Identity Smart Contracts 658comprised by the platform 650 maintain the identity information of theborrowers 652. Lender Identity Smart Contracts 670 comprised by theplatform 650 maintain the identity information of the lenders 656.Borrower Reputation and Credit Rating Smart Contracts 660 comprised bythe platform 650 maintain the reputation information of the borrowers652 and their credit ratings. Collateral Smart Contracts 664 comprisedby the platform 650 maintain collateral information for the loans. Areputation system and collaterals for loans makes the lending processmore reliable. The lending platform 650 uses smart contracts to create acredit rating and reputation system for borrowers. Each repayment andsuccessful loan adds points to the borrower's credit rating and if aloan is not repaid then points are deducted from the borrower's creditrating. Such payments may be transferred to a cryptocurrency wallet 672for the lender 656. If a borrower 652 requesting a loan does not repayas per conditions their credit rating/reputation drops and lenders 656will charge extremely high rates and higher guarantees for anysubsequent loan requests. The amount of loans could be against acollateral account by the borrower 652 or having pledges from guarantor654 or other peers that they will guarantee a certain portion of loan.The risk score gets lower of a borrower has pledges to support him. Ifrisk score suddenly changes existing lenders get an alert that they canopt for a higher rate or a shorter repayment term. This forces theborrower to borrow wisely to protect against these margin calls. Loansissued through the platform 650 may be secured (backed by collateral) orunsecured. A Matching Engine 666 of the platform 650 matches loanrequests to loan offers and connects the borrowers to lenders. Theplatform matches borrowers to lenders by risk reputation, loan value andinterest terms. For secured loans, borrowers 652 or their guarantors 654may present collateral in the form of Cryptocurrency Tokens or TokenizedAssets. When Cryptocurrency Tokens are presented as collateral suchtokens are transferred by the borrower to a collateral contract wherethe tokens are held until the loan is not repaid. When the loan isrepaid, the tokens are released to the borrower 652. If the loan in notrepaid, the tokens are released to the lender 656. Physical assets (suchas gold, diamonds, real-estate property) may be tokenized and presentedas a collateral. For such cases, a third party may be engaged to verifythe physical assets or keep the assets in their possession till the loanis repaid. The lending platform 602 may issue loyalty points 614 toborrowing peers 600 and lending peers 604 upon successful repayment ofloans, to incentivize the borrowing and lending peers 600, 604 to usethe lending platform again for borrowing and lending.

Referring now to FIG. 13 the multi-signature collateral contract used bythe peer-to-peer lending system shown in FIG. 12 is described in moredetail. Collateral tokens are stored in a multi-signature walletcontract 700. Borrower 702, Lender 706, Lending Platform 704 andoptional third-parties 708 hold keys to the multisig wallet contract700. The contract requires M-of-N signatures, typically a majority,(e.g. 2-of-3 or 3-of-5) to release collateral.

Referring now to FIG. 14 a process flow for the chaining of loans isdescribed in more detail. The lending platform supports chaining loanswhere a borrowing/lending peer who has a good credit rating can borrowat low interest rates and lend to one or more peers who have low creditrating at higher interest rates. For example, Peer C 752 has good creditrating and sends a loan request 760 and borrows 762 from Peer D 754 atlow interest rates. Peer C 752 receives loan requests 758, 766 fromPeers A and B 750, 756 who have low credit rating or risk profile, andthen send loans 764, 768 to Peers A and B 750, 756, respectively, athigher interest rates. A loan can be partitioned into subloans withdifferent terms. Lenders can fund a portion or fraction of a loanrequest. Thus a loan could be satisfied with a dozen microloans each atdifferent rates. For example, once a big lender jumps in for 30% ofloan, small lenders can jump in to lend at a lower interest rate. Aborrower with low risk can float a loan but open only 25% for bid to ahigh value lenders (such as institutions or banks). The borrower maythen open up the loan to the smaller lenders who know the high valuelenders will have vetted this borrower. Lending peers can buy a bundleof loans at a particular risk for a price or resell loans. The lendingplatform allows creating a market for users to buy, pool and resellloans. The lending platform may allow a loan to be written off ifcertain conditions may be met. For example, if a philanthropist funds aclinic and they treat five hundred patients in a month, then their loanscan get a reduced rate, or if a farmer creates two jobs his loan may beforgiven.

Referring now to FIG. 15 a process for lending with cryptocurrency ortokens as collateral where the borrower successfully repays the loan isdescribed in more detail. A Borrower 800 creates a loan request withamount requested and loan terms at step 808. The lending platform 802creates a loan contract 810 and advertises the loan request to lendersat step 812. A Lender 804 agrees to fund the loan at step 814. Next, theBorrower 800 deposits cryptocurrency or tokens as collateral in acollateral contract 818 at step 816. The Lender 804 funds the loan atstep 820. The loan amount is released to the Borrower 800 at step 822.The Borrower 800 pays loan installments to the Lending Platform 802 atsteps 824 and 828 which are released to the Lender 804 at steps 826 and830. When the loan repayment is complete, the Collateral is released tothe Borrower 800 at step 832, such release being recorded to thecollateral contract 818.

Referring now to FIG. 16 a process for lending with cryptocurrency ortokens as collateral where the borrower fails to repay the loan, isdescribed in more detail. A Borrower 850 creates a loan request on alending platform 852 with an amount requested and loan terms at step858. The lending platform 852 creates a loan contract 860 and advertisesthe loan request to lenders at step 862. A Lender 854 of N lenders 856to whom the loan request is advertised agrees to fund the loan at step864. Next, the Borrower 850 deposits cryptocurrency or tokens ascollateral in a collateral contract 868 at step 866. The Lender 854funds the loan at step 870. The loan amount is released to the borrowerat step 872. When the Borrower 850 fails to repay the loan as indicatedat step 876, the Collateral is released to the Lender at step 874.

Referring now to FIG. 17 a process flow for lending with physical assetsas collateral, is described in more detail. A Borrower 902 creates aloan request on a lending platform 904 with an amount requested and loanterms at step 858. The lending platform 904 creates a loan contract 910and advertises the loan request to lenders at step 912. A Lender 906agrees to fund the loan at step 914. Next, the Borrower 902 transfersphysical assets (such as gold, diamonds or title to real-estateproperty) to a Third Party 900 at step 916. The Third Party 900tokenizes the assets and transfers the tokens to the borrower at step918. The Borrower 902 deposits these tokens as collateral to the lendingplatform 904 in a Collateral Contract 922 at step 920. The Lender 906funds the loan at step 924. The loan amount is released to Borrower atstep 926. The Borrower repays the loan installment to the lendingplatform 904 at step 931 and the funds are released to the lender 906 atstep 930. When the loan repayment is complete the lending platform 904releases the Collateral (tokens) is released to the Borrower 902 at step932. Next, the Borrower 902 transfers tokens to the third-party 900 atstep 934. The third-party 900 then returns the physical assets to theBorrower 902 at step 936.

Referring now to FIG. 18 transaction fees involved for buying andselling of exemplary coins is described in more detail. exemplary coinscan be purchased by paying in a fiat currency (such as USD) usingcredit/debit card 950 or ACH bank transfer 952, or by paying in acryptocurrency 954 (such as Bitcoin, Ether). There are differenttransaction fees for buying coins with credit/debit card 960, ACH banktransfer, whether automated through an app 962 or manually 964, orcryptocurrency 970. For transactions between the exemplary network 956(such as sending coins to another user or merchant) does not involve anytransaction fee. For selling coins and withdrawing coins to a linkedbank account 958, a transaction fee. for automated transactions throughan app 866 or manual transactions 968. is involved.

Referring now to FIG. 19 an illustration of smart contracts related tothe lending platform and the interactions of borrowers and lenders withthe smart contracts is described in more detail. An Identity SmartContract 1012 is used to link blockchain accounts to real users, such asan account of a borrower 1000 or a lender 1002. The identity informationprovided by the borrower 1000 at step 1004 is recorded in the identitysmart contract 1012 in original or hashed form. Similarly the identityinformation provided by the lender 1002 at step 1020 is recorded in theidentity smart contract 1012 in original or hashed form. A Credit Rating& Reputation Smart Contract 1014 is used to track credit scores andreputation of a borrower 1000. The credit score of the borrower 1000 isrecorded at step 1006 and updated on each new loan request, loanrepayment or loan default. A Collateral Smart Contract 1016 is used tomanage locking up and release of collateral, such as cryptocurrencytokens or physical assets which may be represented in a tokenized form.The borrower 1000 deposits the collateral tokens to the collateral smartcontract 1016 at step 1008. A Loan Smart Contract 1018 is used toenforce loan terms and manage release, repayment or extension of loans.The information related to the borrower's 1000 loan requests, loandisbursement received or loan repayment completion is recorded in theloan smart contract 1018. Similarly, the information related to thelender's 1002 loan offers, loan disbursement completion, or loanrepayment received is recorded in the loan smart contract 1018. Thesmart contracts 1012, 1014, 1016 and 1018 are deployed on the blockchainnetwork 1026.

Referring now to FIG. 20 an illustration of a process for issuingcashback and discounts using smart contracts, is described in moredetail. A customer 1050 makes a transaction to a merchant with couponcode meeting cashback or discount conditions at step 1052. An incentivessmart contract 1054 checks cashback or discount rules comprised therebyand triggers a cashback or discount if the transaction meets thecashback or discount criteria at step 1056. When a cashback or discountis triggered, the token contract 1058 is updated and tokens aretransferred from the merchant's account to the customer's account. Thecustomer 1050 receives a cashback or discount notification at step 1060.The smart contracts 1054 and 1058 are deployed on the blockchain network1064 at step 1062.

Referring now to FIG. 21 an illustration of the peer-to-pool-to-peer(P2P2P) lending model, is described in more detail. The lenders 1100,1102, 1104 contribute to a lenders pool 1108 with conditions. A lender'scondition to lend money may include the amount to lend, the duration ofthe loans, and expected returns. The loans are distributed from thelenders pool 1108 with conditions. Borrowers 1118, 1120, 1122 may submitborrower's requests 1114 from the lenders pool 1108 through a lendingplatform 1110. Each borrower request may comprise the borrower'sconditions for a loan. A borrower's condition for borrowing money mayinclude the amount to borrow, the duration of the loan, and anacceptable interest rate.

A matching engine 1112 in the lending platform 1110 uses smart contracts1116 to ensure the high level (pool level) and low level (borrower andlender) constraints are satisfied. A borrower's requests to borrow moneyare matched automatically to the lenders 1100, 1102, 1104 and lendingpool's 1108 conditions using smart contracts 1116. Each lender pool(such as pool 1108) is represented by a smart contract (such as smartcontract 1124) in the lending platform 1110 which controls the poollevel behavior and handles conditions such as different time periods andexpected returns for the lenders 1100, 1102, 1104 and substitution oflenders who exit the pool 1108 with new lenders, as some of the lendersto the pool 1108 may have different time periods and they will exit andbe substituted by new lenders. Loans are distributed from lender pools1108 with conditions.

The peer-to-pool-to-peer (P2P2P) lending model is more efficient thanthe existing peer-to-peer (P2P) lending models, especially when thereare large number of lenders/investors who want to lend loans. Eachlender/investor contributes a different amount of money and specifiesthe minimum interest they would like to receive and the period of theirloan amounts. Similarly, the borrowers specify similar terms such as theamount of money to borrow, duration and acceptable rate of interest. Inthe P2P2P lending model the lender's money is pooled into one lendingpool and then lent out to multiple borrowers, while smart contractsassure payouts to lenders and payments to borrowers, while some lendersexist and some borrowers' payback. This allows the “pool” of money thatis used for lending, while at the lower level smart contracts ensure alllower agreements are kept. Lenders' and borrowers' contributions andwithdrawals continually occur, while the pool remains active as newborrowers and lenders join and others may leave. A lender may end uplending to N loans and a borrower may end up borrowing from M lendersover a period where only P lenders are active at any time (where M>N andM>P). The smart contracts are thus critical to maintain the integrity ofthe records. In the P2P2P lending model, the transactions for poolsmerge lower level transactions between peers inside the blockchain.

Furthermore, it is contemplated and included within the scope of theinvention that a variety of loans may be executed utilizing this systemsand other systems disclosed herein. The types of loans requested byborrowers, and offered by lenders, may include larger value loans, suchas those typically offered by banks, but may also include smaller valueloans, including those for individual consumer transactions (e.g. aroutine, daily transaction for the purchase of consumer goods,groceries, etc.) performed at a merchant terminal. Additionally, loanrequests may also take the form of other transfers of value aside fromfiat currency, such as requests for cryptocurrency, credit towards afuture transaction, an exchange of tokens having value, and the like.

Referring now to FIG. 22 an illustration of a lending pool generator forgenerating lending pool smart contracts is described in more detail.Each lender 1200, 1202, 1204 contributes 1206 to a lending pool withconditions including the amount of money to lend, duration of lendingand expected returns. Lenders 1200, 1202, 1204 can have differentconditions and may contribute to one or more lending pools. A lendingpool smart contract generator 1208 is used to generate smart contracts1210, 1212, 1214 which represent the lending pools.

Referring now to FIG. 23 an illustration of a matching engine formatching borrowers to lending pools is described in more detail. Eachborrower 1250, 1252, 1254, 1256 requests money with conditions includingthe amount of money to borrow, duration for which money is to beborrowed and acceptable rate of interest. A matching engine 1258 matchesthe borrowers 1250, 1252, 1254, 1256 to lending pool smart contracts1260, 1262, 1264 such that the borrower level and pool level conditionsare satisfied. A borrower 1250, 1252, 1254, 1256 may be matched to morethan one lending pool.

Referring now to FIG. 24 an illustration of feeding external data tolending pool contracts using an oracle is described in more detail.Lending pool and related smart contracts 1304 are deployed on ablockchain network 1306. An oracle 1302 is used to feed in external ordynamic information (such as exchange rates, market value of collateral)to the lending pool smart contracts. The oracle 1302 may obtain suchinformation from external sources and the web 1300.

Referring now to FIG. 25 an illustration of channels and triggers forlending pools is described in more detail. Lending pools 1324, 1326,1328 comprising Lenders 1320 and distributing to Borrowers 1330 can havechannels 1332, 1334 between them for transfer of pooled funds betweenthe pools based on external triggers 1322. Moving funds from one pool toanother pool may be required when a pool is not performing well and thehigh-level (pool-level) and low-level (lender and borrower level)constraints are not being satisfied. The P2P2P lending platform maymonitor the performance of each lending pool and generate triggers fortransfer of funds from one pool to another.

Referring now to FIG. 26 an illustration of the smart contracts involvedin a lending pool is described in more detail. Each lender 1352 isrepresented by an individual smart contract 1358 in the lending pool1350. Similarly, each borrower 1354 is represented by an individualsmart contract 1360 in the lending pool 1350. The lender smart contracts1358 link lenders 1352 to the lending pool 1350 via the lending poolcontract 1356. The borrower smart contracts 1360 link borrowers 1354 tothe pool lending 1350 via the lending pool contract 1356. There is nodirect link between the lenders 1352 and borrowers 1354 like traditionalsmart contracts used in blockchain based peer-to-peer lending solutions.

In current lending schemes (especially computer-implemented lendingschemes or blockchain based peer-to-peer lending schemes), if there area large number of investors in a lending pool, each specifying aninvestment amount they would like to invest, the rates they would liketo receive in combination with time periods (such as 2.3% over 3 months,or 2.2% over 6 months) and with various exit strategies, and largenumber of borrowers specifying various terms and repayment periods andearly payoff options, the following problems arise:

-   -   Manual reconciliation is not possible when the number of active        and passive investors enter and leave the pool.    -   A scalable and secure solution is not possible.

Abstracting the lenders and borrowers with “linked” smart contracts in alending pool solves the problems of manual reconciliation andscalability. Additionally, this approach provides the followingbenefits:

-   -   Borrowers with good credit may borrow at better rates and lend        to other borrowers with bad credit with the borrowed money at        higher rates.    -   A seamless lending environment can be created with options to        borrow or lend at certain rates and offer these derivatives for        trading as well.

Referring now to FIG. 27 an illustration of pool-of-pools comprised ofmultiple lending pools, is described in more detail. Multiple lendingpools can be clubbed together to create a pool-of-pools. Thepool-of-pools approach is beneficial for highly volatile pools in whichborrowers and lenders keep entering and exiting and it is difficult tomeet the high-level (pool-level) and low-level (lender and borrowerlevel) constraints. Combining multiple pools into a pool-of-pools bringsstability to the P2P2P lending platform. A pool-of-pools approach maycomprise a plurality of lending pools 1402, 1404, 1406, 1408 that eachinteract with a pool of pools 1400. Each of the plurality of lendingpools 1402, 1404, 1406, 1408 may comprise borrower smart contracts withrespective borrowers 1412, 1420, 1424, 1428 and lender smart contractswith respective lenders 1410, 1418, 1422, 1426. Additionally, someborrowers 1416 and lenders 1414 may interact directly with the pool ofpools 1400.

Referring now to FIG. 28 an illustration of lending pool smart contractstructures and transactions is described in more detail. A contractowner (or the lending platform) 1522 creates and owns 1520 a lendingpool contract 1500. The lending pool contract 1500 is created from anexternally owned account (EOA) 1518 of the contract owner (or thelending platform) 1522 when a create contract transaction 1510 isperformed by the EOA 1518 thereby creating 1502 the lending poolcontract 1500. Lenders 1524 use their EOAs 1528 to send transactions1532 to the lending pool contract 1500. A lender 1524 can join 1506 alending pool by sending a joinPool transaction 1514. Borrowers 1526 usetheir EOAs 1530 to send transactions 1534 to the lending pool contract1500. A borrower 1526 can repay a loan 1508 taken from the lending poolby sending a repayLoan transaction 1516.

Referring now to FIG. 29 an exemplary classification of lending poolsbased on their risks and returns is described in more detail. Lendingpools are classified based on their risks and returns. The lending poolswith lower risk have lower returns and the lending pools with higherrisk have higher returns. The risk level for a lending pool is computedbased on the reputation and credit scores of the borrowers and lenderslinked to the pool. The pools which lend money to borrowers with highcredit scores usually lend at low rates of interest as these loans areconsidered to be safe. Similarly the pools which lend money to borrowerswith low credit scores usually lend at high rates of interest as theseloans are considered to be risky. In some embodiments, the loan risk maybe categorized as low, medium, and high, and the returns may also becharacterized as low, medium and high. This may result in risk-rewardcategories of low risk-high returns 1600, medium risk-high returns 1602,high risk-high returns 1604, low risk-medium returns 1608, mediumrisk-medium returns 1618, high risk-medium returns 1620, low risk-lowreturns 1612, medium risk-low returns 1614, and high risk-low returns1616. Most lending pools will fall into one of low risk-low returns1612, low risk-medium returns 1608, medium risk-medium returns 1618,medium risk-high returns 1602, and high risk-high returns 1604.

Referring now to FIG. 30 an illustration of an alliance of merchantswith interoperable loyalty points is described in more detail. Customers1150 and 1152 make payments 1154 at affiliated merchant stores 1156using exemplary. The merchant payments are processed 1158 by theexemplary network 1160. Customer's receive loyalty points that work atany merchant in the alliance or network or affiliated merchants 1156.These loyalty points are interoperable across all the merchants in thealliance and can be applied towards a discount for the next purchase.

Referring now to FIG. 31 an illustration of a distributed messagingframework, is described in more detail. The distributedpublish-subscribe messaging framework described here is referred to asBulleting Board Messaging Framework (BBMF) or “Bulletin Board”. TheBulletin Board Server 1678 manages Topics 1680, 1682. Bulletin BoardClients can be Publisher/Producer Clients 1670, 1672 orConsumer/Subscriber Clients 1688, 1690. The Publisher/Producer Clients1670, 1672 publish data or messages to Topics 1680, 1682. Data pushed tothe topics 1680, 1682 from the Publisher/Producer Clients 1670, 1672 mayoriginate from data sources 1650, which may comprise smart contracts1652, oracles 1654, logs 1656, sensors 1658, records 1660, databases1662, streams 1664, and events 1668. Consumer/Subscriber Clients 1688,1690 consume data from the Topics 1680, 1682, receiving messages 1684,1686 from the Bulletin Board Server 1678. Bulletin Board Server 1678supports a plug-in Message Storage Backend 1692 to store and replaymessages. The Message Storage Backend 1692 persists the messages usingtwo options: (1) a Cloud Database or Cloud Storage 1694, (2)Decentralized Storage Platform (such as IPFS or Swarm) 1698 with regularcheckpointing of message hashes to a Blockchain 1696. Messages in theBulletin Board can be either Ephemeral or Persistent. Ephemeral messagesare not stored by the Message Storage Backend. For Persistent messagesTime-to-Live (TTL) can be specified. The Producers and Consumers supportboth Cloud and Blockchain protocols such as HTTP-REST or Web3 forEthereum. This allows existing Smart Contracts (such as Solidity smartcontracts) to publish and consume data to/from the Bulletin board, andexisting Oracles to feed-in data from the web to the smart contractsthrough the Bulletin board. A smart contract implemented in the Soliditylanguage, for example, is a data source which generates notifications inthe form of Solidity events which are published to the Bulletin Boardserver by a Publisher Client. Solidity smart contracts require anexternal Publisher Client to publish messages to the Bulletin board.Extensions to smart contract languages such as Solidity may beimplemented to support Bulletin board APIs to publish data without theneed for an external publisher client. These extensions and/or stubs canbe through use of pragma directives that may be pre-processed bypre-processors to generate suitable code for implementing the interfacesto the bulletin board, or they could involve extensions to the languageitself to support global variable names. Topics are managed in-memorywith regular snapshots on the disk which are later stored in the MessageStorage Backend 1692. A compaction process is defined for moving themessages in the snapshots to the Message Storage Backend 1692 (Cloudand/or Blockchain). The Bulletin Board itself may be implemented in partthrough use of a cloud-based service and/or a blockchain and may alsoinclude hardware accelerators (such as ASICs or FPGAs) and graphicalprocessing units (GPUs) to provide this high throughput low latencyservice. Additional redundancy, authorization, and encryption layers mayalso be provided in hardware and software using known techniques forcloud and internet networks to secure the messages and values storedfrom system failures or hacking attacks.

The BBMF is designed for high throughput and low latency messaging. TheBulletin Board server 1678 can be deployed in a cloud computingenvironment and scaled either vertically or horizontally based ondemand. In vertical scaling larger virtual machine instance size (interms of compute capacity, memory and storage) is used for the BulletinBoard server. In horizontal scaling multiple instances of the BulletinBoard server are launched with each instance managing a subset of thetopics managed by the Bulletin Board.

BBMF supports both push/pull and publish/subscribe data ingestion modelsand data delivery models. Furthermore, the data delivery may be eitherat-least once delivery or exactly-once delivery. BBMF can be implementedin hardware and software, using a combination of servers, ASICs/FPGAsand GPUs as part of a cloud-based or a locally configured computingsystem.

As Bulletin Board is a distributed messaging framework, a trade-offexists between consistency and availability. This trade-off is explainedwith the CAP Theorem, which states that under partitioning, adistributed data system can either be consistent or available but notboth at the same time. Bulletin Board adopts an eventually consistentmodel. In an eventually consistent system, after an update operation isperformed by a writer, it is eventually seen by all the readers. When aread operation is performed by a consumer, the response might notreflect the results of a recently completed write operation.

The Bulletin Board messaging framework supports prioritized processingof messages. The priority can be set in the message header field.Various priority classes for messages can be defined and specified inthe priority header field. This priority classification of messages iscrucial for the Peer-to-Pool-Peer (P2P2P) lending system when a largenumber of updates have to be propagated to linked smart contracts in thelending system.

Referring now to FIG. 32 an illustration of the consumer/subscriberactions supported in the publish-subscribe messaging framework aredescribed in more detail. For Consumers or Subscribers 1708 variousactions Rules & Triggers 1710 and Actions 1712 can be defined. Rules &Triggers 1712 specify how to filer and select data and trigger actions.The supported actions 1716 include Smart Contract Transaction 1718,Webhook Trigger 1720, Log to External Data Store 1722, EmailNotification 1724, SMS Notification 1726, and Mobile Push Notification1728. An action is performed when a message 1706 matching a rule isreceived (for example temperature >60 or ETH price <$500) from theBulletin Board Server 1700, being related to one of the Topics 1702,1704 managed by the Bulletin Board Server 1700. The message may betransmitted to the Consumer or Subscriber Client 1708 by any means ormethod known in the art, including, but not limited to, HTTP/RESTapplications and WebSocket. The smart contract transaction action isparticularly useful for the P2P2P lending system described above where alarge number of linked smart contracts (such as smart contracts in alending pool) can be executed when a message notifying a change in thelending conditions is received.

Referring now to FIG. 33 an illustration of a smart contract data sourcethat uses an external publisher client to publish messages to thepublish-subscribe messaging framework is described in more detail. Asmart contract data source 1800 such as a Solidity smart contractgenerates notifications or events 1802. A publisher/producer client 1804watches for the notifications or events generated by the smart contract1800. When a notification or event is generated, the messages arepublished 1806 to the topics 1810, 1812 managed by the Bulletin Board1808. These messages are delivered 1814 to the consumer/subscriberclient 1816 which has subscribed to the topics 1810, 1812. Theconsumer/subscriber client 1816 has a smart contract transaction actionconfigured which sends transactions 1818, 1820 to the linked smartcontracts 1822, 1824 on receiving the messages.

Referring now to FIG. 34 an illustration of a smart contract data sourcethat uses an integrated publisher client to publish messages to thepublish-subscribe messaging framework, is described in more detail. Asmart contract data source with integrated publisher/producer client1850 generates notifications or events. The notifications or events arepublished as messages 1852 to the topics 1856, 1858 managed by theBulletin Board 1854. These messages are delivered 1860 to theconsumer/subscriber client 1862 which has subscribed to the topics 1856,1858. The consumer/subscriber client 1862 has a smart contracttransaction action configured which sends transactions 1864, 1866 to thelinked smart contracts 1868, 1870 on receiving the messages.

Referring now to FIG. 35 an illustration of the message format for thepublish-subscribe messaging framework is described in more detail. TheMessage Type field 1750 defines the type of the message. Supportedmessage types in the Bulletin Board framework are as follows:

-   -   CONNECT: A CONNECT message is sent by a client (producer or        consumer) to connect to the server.    -   DISCONNECT: A DISCONNECT message is sent by a client to        disconnect from the server.    -   PUBLISH: Used to publish a new message    -   SUBSCRIBE: Used to subscribe to a topic managed by the Bulletin        Board    -   UNSUBSCRIBE: Used to unsubscribe from a topic    -   PINGREQUEST: Used to send a ping request to the server    -   PINGRESPONSE: Used to respond to a ping request    -   DATAREQUEST: Used to request a message or data item    -   DATARESPONSE: Used to respond to a request for a message or data        item.

The Data Payload field 1752 includes the message as a JSON data payload.The message may be signed by the sender and/or encrypted. The Topicsfield 1754 includes a list of topics to which the message is published.The Headers field 1756 includes headers such as:

-   -   Sender or receiver identity    -   Message signature    -   QoS Level    -   Priority    -   Persistent or Ephemeral message    -   Additional flags to help in processing of message

The Time-to-Live (TTL) field 1758 is used to specify the validity orlife of the message. The Nonce field 1760 is an integer value which canbe used to prove that a given amount of work was done in composing themessage.

Referring now to FIG. 36 an illustration of a blockchain checkpointingapproach in the publish-subscribe messaging framework, is described inmore detail. When using Blockchain and Decentralized Storage Platform(IPFS or Swarm) based Message Storage Backend, the messages 1780 arehashed 1782 and are added to a Merkle Tree 1784. The root hash 1786 ofthe Merkle Tree 1784 (after every N messages) is recorded on theBlockchain 1788. This ensures messages cannot be tampered with later.

Referring now to FIG. 37 an illustration of a global variable namesystem being updated by a consumer of the publish-subscribe messagingframework, is described in more detail. The Global Variable Name System(GVNS) 1916 maintains records of global variables and the owners andresolvers for the global variables. Data sources 1900 such as a smartcontract, oracle, log, sensor, record, database, stream or event,produce data or notifications which are sent to a publisher/producerclient 1902. The publisher/producer client 1902 publishes the data ornotification as a message 1904 to one or more topics 1908, 1910 managedby the Bulletin Board server 1906. The consumer/subscriber client 1914receives the messages 1912 and updates the value of global variablesregistered in the GVNS 1916. Smart contracts 1918, 1920, 1922 referencethe global variable registered in the GVNS 1916.

Referring now to FIG. 38 an illustration of the architecture of a globalvariable name system, is described in more detail. The Global VariableName System (GVNS) 1950 comprises Registrar 1952, Registry 1954 andResolver 1956 components. The Registrar 1952 is responsible forregistering new variable names, updating the resolver for a variablename, and transferring the ownership of a variable. The Registry 1954 isresponsible for recording the owner and resolver of a variable name andreturning the resolver for a variable name. The Resolver 1956 isresponsible for resolving a variable name to a value and updating thevalue of a registered variable. The steps involved in registering aglobal variable in the GVNS 1950, updating the variable and retrievingthe current value of the variable are explained as follows. At step-11958 a user 1980 sends a request (through an externally owned account1978 or a smart contract 1976) to register a new global variable name(for example, nCash.supply) to the Registrar 1952. At step-2 1960, theRegistrar 1952 sets the owner and resolver for the variable in theRegistry 1954. At step-3 1970, a consumer/subscriber client 1972 or asmart contract 1974 sends a request to update the value of the globalvariable to the Resolver 1956. At step-4 1962, a smart contract 1966requests the value of the global variable from the Registry 1954. Atstep-5 1964, the Registry 1954 retrieves the Resolver 1956 for thevariable. At step-6 1968, the Resolver 1956 returns the value of theglobal variable.

Referring now to FIG. 39 an illustration of global variable sharingacross smart contracts is described in more detail. The Lending Poolsmart contract 2004, Lending Request smart contract 2002 and Loan smartcontract 2006 are linked smart contracts in a Peer-to-Pool-Peer (P2P2P)lending system that are used in loan making and loan servicingprocesses. The Lending Request smart contract 2002 is used in the loanmaking process. Borrowers send lending requests to the lending systemand a Lending Request smart contract is created for each lendingrequest. The Lending Pool smart contract 2004 is used to manage alending pool. When the lending system matches a lending request to alending pool, a new Loan smart contract 2006 is created. The Loan smartcontract 2006 manages the loan servicing aspects of a loan from the timethe loan is disbursed until the loan is paid off. The Loan smartcontract 2006 captures the loan details such as loan principal, loaninterest rate, address of lending pool contract from where the loan isdisbursed as state variables. Loan smart contract 2006 also registersglobal variables 2042 such as for the loan amount repaid(loanAmountRepaid) and loan status (loanStatus). The Lending Pool smartcontract 2004 and Lending Request smart contract 2002 have globalvariables 2022, 2012 which are registered 2010, 2008 with the GlobalVariable Name Systems (GVNS) 2000 (lendingPool AmountRaised, lendingPoolnumLenders, lendingRequest AmountRequested). These global variables arereferenced 2032 in the Loan smart contract 2006.

Each of the smart contracts 2002, 2004 and 2006 have state variables2014, 2024, 2034, functions 2016, 2026, 2036, modifiers 2018, 2028,2038, and events 2020, 2030, 2040, which are existingelements/types/constructs in the Solidity smart contracts language.Support for global variables which are shared across multiple smartcontracts through GVNS 2000 within Solidity smart contracts language, isadded through extensions to the Solidity language specification orthrough embodiments described below that can be implemented without suchextensions to Solidity and/or EVM. Furthermore, extensions are donewithin the Ethereum Virtual Machine (EVM) which is the runtimeenvironment for smart contracts in Ethereum to add support for globalvariables shared through GVNS 2000. While Solidity and Ethereum havesupport for a limited set of global variables that provide informationabout the blockchain (such as block.coinbase, block.difficulty,block.gaslimit, block.number, block.blockhash, block.timestamp,msg.data, msg.gas, msg.sender, msg.value, tx.gasprice, tx.origin,this.balance, addr.balance), it is not possible for two or more linkedsmart contracts to share global variables. This additional support forglobal variables is enabled by the GVNS 2000, extensions to the Soliditylanguage specification and extensions to the Ethereum Virtual Machine(EVM). The global variable support is crucial for linked smart contracts(such as in a P2P2P lending system) to work.

The BBMF when used in combination with GVNS could provide information toan “analytics engine” as to the number of updates of the globalvariables and their type, and also to “advertising engines” as to theglobal variables referenced and their types.

Referring now to FIG. 40 an exemplary implementation of a Bulletin BoardPublisher/Producer client and Consumer/Subscriber client is described inmore detail. In the Publisher/Producer client implementation an instanceof the Bulletin Board client class is created. The connect( )method ofthe client class is used to establish a connect to the Bulletin Boardserver by passing the Bulletin Board server address, clientiD and clientsecret. The publish( )method of the client class is used to publish amessage to the Bulletin Board server. The message object published tothe Bulletin Board server contains the list of topics, data payload,headers, time-to-live and nonce fields. In the Consumer/SubscriberClient implementation, subscribe( )method of the client class is used tosubscribe to all or selected topics on the Bulletin Board server. Acallback function on_message( ) is defined which is executed every timea new message is delivered.

Referring now to FIG. 41 an exemplary interface of the exemplary mobileapplication is described in more detail. The exemplary interface showsoptions to buy coins, send coins, receive coins, pay coins at amerchant, sell or withdraw coins, chat and transact with contacts, viewlist of transactions, loans and settings options. The customer's accountdetails such as account number, name and account balance is also shown.

Referring now to FIG. 42 an exemplary interface of the exemplary mobileapplication showing peer-to-peer lending options is described in moredetail. A customer is eligible to request loans after completing thelending profile that includes customer's financial and educationinformation. Customer can view the exemplary credit score from themobile application. Borrowing peers (borrowers), can create new loanrequests, view the status of existing loan requests, view loan offersreceived from lending peers (lenders) for the loan requests, and repay aloan. Lending peers (lenders) can view open loan requests submitted byall borrowing peers (borrowers) on the network, search for specific loanrequests by date range or loan request ID, send loan offers for the loanrequests, and release funds for accepted loan offers.

Referring now to FIG. 43 an exemplary interface of the exemplary mobileapplication showing different types of transactions is described in moredetail. The transactions involved are of following types:

-   -   Transaction for buying new coins by paying in fiat currency        (such as USD) with credit/debit card or ACH bank transfer    -   Transaction for buying new coins by paying in cryptocurrency        (such as Bitcoin)    -   Transaction for selling coins and withdraw coins to a linked        bank account    -   Transaction for transferring coins to another user    -   Transaction for a cashback received on availing a cashback        offer.    -   Transaction for coins received on claiming a voucher

Referring now to FIG. 44 an exemplary interface of the exemplary mobileapplication showing chats and payments interface, is described in moredetail. The chats and transactions interface allows two customers tochat with each other and send or request payments. A payment requestreceived by a user can be approved or declined from the chats andtransactions interface itself.

Referring now to FIG. 45 an illustration of the exemplary mobileapplication features for different types of accounts is depicted.

Referring now to FIG. 46 an illustration of an application of a GlobalVariable Name System to an online-food ordering system, is described inmore detail. Consider the example of an online-food ordering system andcan also represent any peer-to-peer services application, such as Uberor Lyft, or an Amazon Prime type services model. There are a number ofparties involved—customer 2158, food ordering platform 2138, restaurant2144, delivery service 2154 (applicable to DoorDash and Uber typedelivery systems). The system creates, in this exemplary case, fourlinked smart contracts 2128, 2130, 2132 and 2134 when an order isplaced. The linked smart contracts share state through a Global VariableName System (GVNS) 2100, the GVNS 2100 comprising a registrar 2106, aregistry 2112, and a resolver 2110 as described hereinabove. The smartcontracts 2128, 2130, 2132 and 2134 include global variable registrationrequests that are sent to the GVNS 2100 and reference and update globalvariables 2114, 2116, 2118, 2120 in the GVNS 2100 created responsive tothe global variable registration requests, defining status updates,responsive to updates 2136, 2140 2142, 2146 received thereby. The updateto the global variable comprised by the GVNS 2100 may be defined as aGVNS variable update. The global shared variables and GVNS variableupdates associated therewith are the event status that triggers a statemachine that goes through the four states of the order—(1) Order placedon online food ordering platform 2148, (2) Order received by restaurant2150, (3) Order picked up by driver 2152, (4) Order received by customer2156. A decentralized application (Dapp) 2104 watches 2102 the globalvariables in GVNS 2100 for order status and triggers order completionand payments to concerned parties when the global state is updated. Uponorder completion trigger, payments are sent to—(1) online food orderingplatform at step 2126, (2) restaurant at step 2124, (3) delivery serviceor driver at step 2122. The Dapp 2104 may also transmit an indicationabout payment being made. In some embodiments, the Dapp 2104 may makethe payment across a blockchain network that is discrete from theblockchain network associated with the smart contracts 2128, 2130, 2132,2134.

We now describe an embodiment that may not require extensions of theEVM, but can be realized using a novel way of implementing GVNS.Referring now to FIG. 47, an illustration of an approach for realizingthe Global Variable Name System, is described in more detail. The GlobalVariable Name System (GVNS) 2200 is implemented outside the blockchainin an SQL or NoSQL database. Such an arrangement may improve theperformance of the blockchain network the smart contracts reside on byreducing the amount of data stored on the blockchain network andproviding additional security to the GVNS by making it not directlyaccessible from the blockchain network. The two-way oracle 2202 (inboundand outbound) allows registration of global variable names and sendingupdated values of the variables registered in the GVNS 2200 to smartcontracts 2208 and 2210. The smart contracts can request registration ofglobal variable names by transmitting such requests to the GVNS 2200 viathe oracle 2202 and update the values of global variables in GVNS 2200through the oracle 2202. The oracle 2202 pushes data 2204, 2206 to thesmart contacts 2208, 2210 according a time period defined as anindication time period whether or not the global variable has changed.If the pushed (or in other embodiments, pulled) data is compared andchecked for a flag that indicates the data did not change from the lasttime then the smart contracts 2208, 2210 need not do anything. Else, thesmart contracts will update their local values of the global variablesused within their logic. The time period can be adjusted based onapplication domain. The oracle 2202 has a loop that is driven by a GVNStimer associated with each global variable.

Referring now to FIG. 48 an illustration of an application of a GlobalVariable Name System to an eCommerce platform, is described in moredetail. Consider the example of an eCommerce platform (such as Amazon,Walmart, eBay or BestBuy). There are a number of partiesinvolved—customer 2320, eCommerce platform 2322, warehouse 2324,shipping service 2326 (either owned by the eCommerce platform orthird-party service such as FedEx, DHL or UPS). The system creates, inthis exemplary case, four linked smart contracts 2304, 2306, 2308 and2310 when an order is placed. The customer places the order 2328 for aproduct on the eCommerce platform 2322 and makes the payment which isheld in an Escrow smart contract 2304. Upon confirmation of the order,the eCommerce platform 2322 creates an Order smart contract 2306 andupdates the state of the order 2314 in the contract 2306. The orderinformation is sent 2330 to warehouse 2324 for fulfillment. Upon receiptof the order information, the warehouse 2332 creates a Fulfillment smartcontract 2308 and updates 2316 the fulfillment status in the smartcontract 2308. When the order is packed and handed over 2332 to theshipping service 2326, a Logistics smart contract 2310 is created by theshipping service 2326. When the order is delivered to the customer 2320,the Logistics smart contract 2310 is updated 2318. The linked smartcontracts 2304, 2306, 2308 and 2310 share state through a GlobalVariable Name System (GVNS) 2300. The two-way oracle 2302 (inbound andoutbound) allows sending 2336, 2338, 2340, 2342 updated values of thevariables registered in the GVNS 2300 to smart contracts 2304, 2306,2308 and 2310. Upon order completion and delivery 2334, the Escrow smartcontract 2304 is updated 2312 and the payment held in Escrow smartcontract 2304 is released to the eCommerce platform 2322.

While the above description contains much specificity, these should notbe construed as limitations on the scope of any embodiment, but asexemplifications of the presented embodiments thereof. Many otherramifications and variations are possible within the teachings of thevarious embodiments. While the invention has been described withreference to exemplary embodiments, it will be understood by thoseskilled in the art that various changes may be made and equivalents maybe substituted for elements thereof without departing from the scope ofthe invention. In addition, many modifications may be made to adapt aparticular situation or material to the teachings of the inventionwithout departing from the essential scope thereof. Therefore, it isintended that the invention not be limited to the particular embodimentdisclosed as the best or only mode contemplated for carrying out thisinvention, but that the invention will include all embodiments fallingwithin the scope of the appended claims. Also, in the drawings and thedescription, there have been disclosed exemplary embodiments of theinvention and, although specific terms may have been employed, they areunless otherwise stated used in a generic and descriptive sense only andnot for purposes of limitation, the scope of the invention therefore notbeing so limited. Moreover, the use of the terms first, second, etc. donot denote any order or importance, but rather the terms first, second,etc. are used to distinguish one element from another. Furthermore, theuse of the terms a, an, etc. do not denote a limitation of quantity, butrather denote the presence of at least one of the referenced item.

Thus the scope of the invention should be determined by the appendedclaims and their legal equivalents, and not by the examples given.

The claims in the instant application are different than those of theparent application or other related applications. Applicant thereforerescinds any disclaimer of claim scope made in the parent application orany predecessor application in relation to the instant application. Anysuch previous disclaimer and the cited references that it was made toavoid, may need to be revisited. Further, any disclaimer made in theinstant application should not be read into or against the parentapplication.

That which is claimed is:
 1. A method of tracking orders through ablockchain network comprising: receiving a plurality of global variableregistration requests from a plurality of linked smart contractsrecorded to a first blockchain network responsive to an order placementat a global variable name system (GVNS); defining a global variableresponsive to each global variable registration request; receiving afirst status update related to the order placement from a first smartcontract of the plurality of smart contracts, defining a first receivedstatus update; and updating a first global variable comprised by theGVNS responsive to the first received status update, defining a firstGVNS variable update; wherein the first global variable is comprised bythe first smart contract and a second smart contract of the plurality ofsmart contracts; and wherein the value of the first global variable oneach of the first and second smart contracts is updated responsive tothe first GVNS variable update.
 2. The method according to claim 1further comprising receiving a first indication of value transfer from adistributed application responsive to the first GVNS variable update. 3.The method according to claim 2 wherein the value transfer is indicatedto have occurred on a second blockchain network discrete from the firstblockchain network.
 4. The method according to claim 1 furthercomprising: receiving a second status update related to the order fromthe second smart contract of the plurality of smart contracts, defininga second received status update; and updating a second global variablecomprised by the GVNS responsive to the second received status update,defining a second GVNS variable update.
 5. The method according to claim4 further comprising a second indication of value transfer from adistributed application responsive to the second GVNS variable update.6. The method according to claim 1 wherein the plurality of globalvariable name registration requests and the first status update arereceived at an oracle in communication with the GVNS, the method furthercomprising: receiving the plurality of global variable name registrationrequests from the oracle; receiving the first status update from theoracle; receiving a status request for the first global variable fromthe oracle; transmitting a first flag to the oracle if the first globalvariable has changed in a time period since a previous status requestfor the first global variable, defining a first indication time period;and transmitting the value of the first global variable to the oraclewhere the first flag indicates the first global variable has changedduring the first indication time period.
 7. The method according toclaim 6 wherein the GVNS is implemented in a database outside the firstblockchain network.
 8. The method according to claim 1 furthercomprising: receiving an indication of the order placement; generating aplurality of linked smart contracts responsive to the indication of theorder placement, each linked smart contract comprising a global variablename registration request; and recording each of the plurality of linkedsmart contracts to the first blockchain network.
 9. The method accordingto claim 8 wherein the plurality of linked smart contracts comprises asmart contract associated with the placing of the order, a smartcontract associated with receipt of the order by an order fulfillmentagent, and a smart contract associated with a delivery agent.
 10. Themethod according to claim 9 wherein the plurality of linked smartcontracts further comprises an escrow smart contract.
 11. A method oftracking orders through a blockchain network comprising: receiving aplurality of global variable registration requests from a plurality oflinked smart contracts recorded to a first blockchain network responsiveto an order placement at a global variable name system (GVNS); defininga global variable responsive to each global variable registrationrequest; receiving a first status update related to the order placementfrom a first smart contract of the plurality of smart contracts,defining a first received status update; updating a first globalvariable comprised by the GVNS responsive to the first received statusupdate, defining a first GVNS variable update; receiving a second statusupdate related to the order from the second smart contract of theplurality of smart contracts, defining a second received status update;and updating a second global variable comprised by the GVNS responsiveto the second received status update, defining a second GVNS variableupdate; wherein the first global variable is comprised by the firstsmart contract and a second smart contract of the plurality of smartcontracts; wherein the value of the first global variable on each of thefirst and second smart contracts is updated responsive to the first GVNSvariable update; wherein the second global variable is comprised by thesecond smart contract and a third smart contract of the plurality ofsmart contracts; and wherein the value of the second global variable oneach of the second and third smart contracts is updated responsive tothe first GVNS variable update.
 12. The method according to claim 11further comprising: receiving a first indication of value transfer froma distributed application responsive to the first GVNS variable update;and receiving a second indication of value transfer from a distributedapplication responsive to the second GVNS variable update.
 13. Themethod according to claim 11 wherein the plurality of global variablename registration requests and the first status update are received atan oracle in communication with the GVNS, the method further comprising:receiving the plurality of global variable name registration requestsfrom the oracle; receiving the first status update from the oracle;receiving a status request for the first global variable from theoracle; transmitting a first flag to the oracle if the first globalvariable has changed in a time period since a previous status requestfor the first global variable, defining a first indication time period;and transmitting the value of the first global variable to the oraclewhere the first flag indicates the first global variable has changedduring the first indication time period.
 14. The method according toclaim 13 wherein the GVNS is implemented in a database outside the firstblockchain network.
 15. The method according to claim 11 wherein theplurality of linked smart contracts comprises a smart contractassociated with the placing of the order, a smart contract associatedwith receipt of the order by an order fulfillment agent, and a smartcontract associated with a delivery agent.
 16. The method according toclaim 15 wherein the plurality of linked smart contracts furthercomprises an escrow smart contract.
 17. A method of tracking ordersthrough a blockchain network comprising: receiving a plurality of globalvariable registration requests from an oracle in communication with aplurality of linked smart contracts recorded to a first blockchainnetwork responsive to an order placement at a global variable namesystem (GVNS); defining a global variable responsive to each globalvariable registration request; receiving a first status update from theoracle related to the order placement from a first smart contract of theplurality of smart contracts, defining a first received status update;updating a first global variable comprised by the GVNS responsive to thefirst received status update, defining a first GVNS variable update;receiving a first indication of value transfer from a distributedapplication responsive to the first GVNS variable update; receiving astatus request for the first global variable from the oracle;transmitting a first flag to the oracle if the first global variable haschanged in a time period since a previous status request for the firstglobal variable, defining a first indication time period; andtransmitting the value of the first global variable to the oracle wherethe first flag indicates the first global variable has changed duringthe first indication time period; wherein the first global variable iscomprised by the first smart contract and a second smart contract of theplurality of smart contracts; and wherein the value of the first globalvariable on each of the first and second smart contracts is updatedresponsive to the first GVNS variable update.
 18. The method accordingto claim 17 wherein the value transfer is indicated to have occurred ona second blockchain network discrete from the first blockchain network.19. The method according to claim 17 further comprising: receiving asecond status update related to the order from the second smart contractof the plurality of smart contracts, defining a second received statusupdate; and updating a second global variable comprised by the GVNSresponsive to the second received status update, defining a second GVNSvariable update.
 20. The method according to claim 19 further comprisinga second indication of value transfer from a distributed applicationresponsive to the second GVNS variable update.